PHI GROUP, INC. (OTCMKTS:PHIL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement.
On June 29, 2017, PHI Group, Inc. (the Company) entered into a
Contract for Transfer of Shares (Contract) to purchase 51% of
equity ownership in Constructii SA, (CSA), a Romanian company
engaged in construction and manufacturing since 1950, from Ioan
Tusinean, the majority shareholder of CSA, in exchange for
fifteen million U.S. dollars in cash. The first closing of this
transaction is scheduled to occur within a maximum of sixty days
from the date of signing of the Contract and the final closing to
occur thirty days after the first closing. Subject to mutual
written consent of the Company and the selling shareholder of
CSA, the final closing may occur at other times.
The foregoing description of the Contract for Transfer of Shares
by and between the Company and the selling shareholder of
Constructii SA is qualified in its entirety by reference to the
full text of said Contract, which is filed as Exhibit 10.1 to
this Current Report on Form 8-K and incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| No. | Description | |
| 10.1 |
Contract for Transfer of Shares dated June 29, 2017 by and between PHI Group, Inc. and Ioan Tusinean, the majority shareholder of Constructii SA, a Romanian company. |
to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
PHI GROUP INC Exhibit…To view the full exhibit click here About PHI GROUP, INC. (OTCMKTS:PHIL)
PHI Group, Inc. is engaged in mergers and acquisitions. The Company focuses on acquiring operating businesses in selective industries and invests in various ventures that may create long-term value for its shareholders. In addition, the Company also provides corporate finance services, including merger and acquisition advisory and consulting services for client companies through its subsidiary, PHI Capital Holdings, Inc. The Company’s business involves acquisitions of energy assets, as well as production and trading of energy commodities. The Company will continue to pursue its merger and acquisition program by acquiring all or controlling interests in target companies in various industries, including but not limited to conventional energy, renewables, natural resources, agribusiness, technology, transportation, education, distribution, mining, oil and gas, financial Services, healthcare and pharmaceuticals.
